Move could see ad-supported video service added to iTunes

Apple to buy US video service Hulu?

Apple is reportedly considering an acquisition of US-based online video service Hulu, according to a Bloomberg report.

Cash rich Apple has over $75 billion of reserves, some of which could be used for buying Hulu which would give the iPhone maker a new subscription video service to compliment the firm’s iTunes store.

Apple has shied away from large acquisitions, having instead developed virtually off of the firms successful product ranges, hardware and software, internally. However as the firm’s cash reserves has grown, such acquisitions are thought to be on the table, particularly as the firm faces increasing competition in the smartphone and tablet arena.

Apple lead a consortium that bought defunct tech firm Nortel’s pool of 6,000 patents covering 4G, wireless, data networking and more. Apple paid $2.6 billion out of the $4.5 billion total. The purchase is expected to provide valuable ammunition in the ongoing patent disputes between smartphone manufacturers.

Bloomberg said buying Hulu could cost Apple as much as $2 billion.

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